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Used Cars
US-based online marketplace for buying and selling used cars Shift Technologies has reduced its workforce by 30 per cent
India's used-luxury-car market is growing 20% annually, with sales volume averaging more than 60,000 units a year, according to Spinny
The Ministry of Road Transport and Highways (MoRTH) has introduced authorization certificates for the dealers of registered vehicles to identify the authenticity of a dealer, a move that will promote ease of doing business and transparency. MoRTH in a notification issued on December 22, has amended chapter III of the Central Motor Vehicle Rules, 1989 to build a comprehensive regulatory ecosystem for the pre-owned car market. According to the notification, the procedure for intimation of delivery of vehicle between the registered owner and the dealer has been detailed, and the powers and responsibilities of a dealer in possession of registered vehicles have also been clarified. The pre-owned car market in India has been gradually gaining ground. In recent years, the advent of online marketplaces, which are involved in buying and selling of pre-owned vehicles has further given a boost to this market. In the current ecosystem, many issues were being faced viz. during transfer of vehic
The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021
Automaker Kia India on Tuesday said it has commenced certified pre-owned business in the country with a plan to have 30 sales outlets by the end of the year. The company said its certified pre-owned car business 'Kia CPO' intends to provide a new age experience to customers, in line with new car buying experience, that will allow them to sell, buy or exchange pre-owned cars, backed by ownership transfers and customised finance options. "With Kia CPO, we want to rewrite the rules of the game for the pre-owned car market. Currently, Indian customers have limited access to certified and verified information when it comes to the pre-owned car segment and we intend to change this notion with our entry into the business," Kia India Chief Sales Officer Myung-sik Sohn said in a statement. The company's proactive approach of starting CPO business at such an early stage of its existence in the country will ensure that all systems and processes are in place even before the first lot of product
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Second-hand car industry is becoming increasingly organised. The market for second-hand cars is expected to double in the next five years. Is the used car than the new 'new' for Indian auto-buyers?
Swedish car maker Volvo plans to expand its certified used-car business pan-India by early 2024 and expects as much as one-third of its volumes to come from this segment, a top company official has said. Volvo operates its pre-owned car business under the Selekt' platform globally and it recently launched the platform in India with two dealerships. According to a study published early this month, the pre-owned car market is expected to grow at a compounded annual growth rate of 19.5 per cent till financial year 2027 and reach up to 8-million units. A recent CRISIL-OLX Auto report suggested that within the used-car market, the premium segment has seen a sharp uptick in demand as well as in supply in the first half of this calendar year. We have just started a pilot for our pre-owned certified car platform Volvo Selekt with two dealers in India. We want to expand it in phases and we are looking to ensure that the platform is across our network by 2023 or early 2024, Jyoti Malhotra, .
Firm says pre-Covid level of sales achieved and that pre-owned vehicles are no longer a second choice
Dealers of registered vehicles must get authorisation certification; intermediaries will have to provide details of each registered vehicle
Just make sure it's in good shape, the papers are in order and the price you're paying doesn't pinch in the long run
First edition of the 'Future of Mobility 2022' report expects the segment to grow further all across the country.
Start-ups armed with tech and investor money are upping the pace and legacy players are upping the ante
8.3 million units in sales expected by FY26 as people prefer to use their own vehicles for travel.
The unicorn raised $283 million in a Series E funding round from new and existing investors earlier this month.
The latest round includes a primary capital infusion of $250 million and a secondary sale of $33 million by angels and a few seed stage investors
The study highlights the most-compelling consumer trends and statistics with respect to the Indian used car industry
The company said it plans to set up 20 such facilities in the country in near future
The pre-owned car market has got a boost with the entry of startups like Cars24, Olx Autos, Droom and CarTrade. But there's still a policy vacuum here. Let's understand how it can hit the market
Will India Inc's earnings momentum continue in Q2? Can a policy-vacuum slow down India's booming used-car market? Who are the smartest stock market investors in the Modi govt? Find out in this episode